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Monday, July 09, 2012

May consumer credit up by most since Dec

http://www.marketwatch.com/story/may-consumer-credit-up-by-most-since-dec-2012-07-09?link=MW_home_latest_news

U.S. consumers increased their debt in May by a seasonally adjusted $17.1 billion, the largest increase since last December, the Federal Reserve reported Monday. This is the ninth-straight monthly gain in consumer borrowing. The increase in May was just more than double of the roughly $8 billion gain expected by Wall Street economists. All types of credit increased in May. Credit-card debt rose by $8.0 billion in the month after a $3.5 billion decrease in April. Non-revolving debt such as auto loans, personal loans and student loans experienced a $9.1 billion jump in May after a $13.4 billion gain in the prior month.

 Note the mention of student loans





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